Kornitzer Capital Management Inc. KS Buys Shares of 111,525 Nutanix (NASDAQ:NTNX)

Kornitzer Capital Management Inc. KS purchased a new stake in shares of Nutanix (NASDAQ:NTNX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 111,525 shares of the technology company's stock, valued at approximately $7,786,000.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Nutanix by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company's stock valued at $1,568,447,000 after acquiring an additional 146,854 shares during the period. Renaissance Technologies LLC increased its position in Nutanix by 6.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company's stock valued at $270,348,000 after buying an additional 268,400 shares in the last quarter. Geode Capital Management LLC increased its position in Nutanix by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company's stock valued at $263,275,000 after buying an additional 163,874 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Nutanix by 9.3% in the fourth quarter. First Trust Advisors LP now owns 3,498,768 shares of the technology company's stock valued at $214,055,000 after purchasing an additional 297,754 shares during the period. Finally, Norges Bank acquired a new position in shares of Nutanix in the fourth quarter valued at about $195,758,000. Institutional investors own 85.25% of the company's stock.

Nutanix Stock Performance

NTNX stock traded up $0.71 on Friday, reaching $75.55. The company's stock had a trading volume of 1,427,778 shares, compared to its average volume of 2,465,985. The firm has a market cap of $20.25 billion, a PE ratio of 150.10, a PEG ratio of 6.91 and a beta of 0.67. The business has a fifty day simple moving average of $76.39 and a two-hundred day simple moving average of $70.77. Nutanix has a 12-month low of $43.35 and a 12-month high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. The firm had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. During the same period last year, the company earned $0.28 earnings per share. The company's revenue was up 21.8% on a year-over-year basis. As a group, research analysts anticipate that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Rajiv Ramaswami sold 1,925 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $75.00, for a total transaction of $144,375.00. Following the completion of the sale, the chief executive officer directly owned 518,561 shares in the company, valued at $38,892,075. This represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Virginia Gambale sold 7,000 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the completion of the sale, the director owned 38,330 shares of the company's stock, valued at approximately $2,989,740. This trade represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,552,549 shares of company stock worth $426,621,281. 6.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. KeyCorp assumed coverage on Nutanix in a research report on Thursday, June 26th. They issued an "overweight" rating and a $95.00 target price on the stock. Raymond James Financial downgraded Nutanix from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 20th. Piper Sandler reiterated an "overweight" rating and set a $88.00 target price (up previously from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $92.00 target price on shares of Nutanix in a research note on Thursday, May 29th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $90.00 price target (up from $75.00) on shares of Nutanix in a report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.00.

Nutanix Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.